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At Tax Filings Canada, we handle every part of your bookkeeping for contractors, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Stay compliant and optimize your financial processes with our specialized bookkeeping for contractors services.
No hidden fees. Pay only after your service is completed. The fee is agreed before any work starts.
Bookkeeping for Contractors from Tax Filings Canada gives owner-managed businesses and growing teams monthly reconciliations, GST/HST-ready ledgers and receipt capture at a cheap fixed fee agreed before work begins — no hourly billing, no surprise invoices.
Gather what you have — even a shoebox of receipts is a fine starting point.
We turn your records into a complete, review-ready bookkeeping for contractors file.
You get a walkthrough of the results, in plain language, before you approve a thing.
We submit everything for you and stay available for whatever follows.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
Monthly reconciliation is what keeps input tax credits claimable — unmatched receipts are the first thing disallowed in a GST/HST review. Because the fee is fixed and cheap, the economics stay predictable whether your file is simple or messy.
What follows is the working view of a tax consultant who prepares bookkeeping for contractors week in, week out — the points that decide real files.
The starting point is not a strategy but a constraint: Bank feeds are not a bookkeeping system. Auto-categorised transactions still need reconciliation to statements, because a duplicated feed entry is indistinguishable from a real expense on the face of the ledger.
The detail that surprises most owners comes next. Cash-basis records are not acceptable for a corporation. Income must be reported on the accrual basis, with receivables and payables recognised when they arise rather than when the money moves. The documentation side matters just as much. Personal expenses run through a corporate account are shareholder benefits, taxable to the shareholder personally whether or not they were ever labelled as such.
You do not need to hold all of this in your head. You need someone who does — and an accountant handling bookkeeping for contractors week after week keeps these rules current so you do not have to. The engagement goes fastest when last year’s filings and the current ledger arrive together.
Our terms are the same for every engagement: a fixed fee agreed before work begins, a full review with you before filing, and payment only after the service is complete.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your bookkeeping for contractors requirements.
Coverage: Standard bookkeeping and bookkeeping for contractors preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your bookkeeping for contractors needs?
Providing tailored bookkeeping for contractors services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
Risk-Free, Hassle-Free, and Client-First!
Schedule a Free ConsultationUse our office finder below to select your nearest accountant tax filing expert.
See how our expert Bookkeeping for Contractors tax and accounting services have helped Canadian businesses save money and stay compliant.
A second opinion for an owner-operated trades business in Calgary, Alberta found a payroll clearing account that had never been brought to zero, carrying a balance nobody could explain in prior filings and recovered $69,000 a year.
Collections had begun against an equipment rental yard in Lethbridge, Alberta over 7 years of unfiled returns. Bringing them current cut $132,000 from the balance.
A dental hygiene clinic in Kelowna, British Columbia was overpaying instalments because of sales recorded from bank deposits, so processor fees, chargebacks and refunds appeared nowhere in the ledger. Rebasing them returned $78,000 to the business.
A subscription box retailer in Moncton, New Brunswick was preparing to sell, but no valuation on file to support the price the parties had agreed disqualified the shares. Purification sheltered $725,000 under the exemption.
The ledger at a wedding photography studio in Victoria, British Columbia could not support its own filings because of three years of returns filed off numbers nobody could trace back to a bank statement. Rebuilding it surfaced $14,500 in unclaimed input tax.
A courier subcontractor paid by the drop in Kitchener, Ontario had never tested its work against the eligibility rules. The resulting $18,000 claim was accepted without adjustment.
Meet the specialists behind your Bookkeeping for Contractors filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Bookkeeping for Contractors starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We are a cloud-based practice serving every province and territory, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our bookkeeping for contractors services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified. Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer. We flag this early with every client it touches, because finding it out at filing time leaves you far fewer options than finding it out now.
There is a widespread assumption here, and the actual position is worth stating plainly. An expense is deductible where it was incurred to earn income and is reasonable in the circumstances. The business-use portion must be supported, which for vehicles means a logbook. The CRA rarely argues that an expense category is wrong; it argues that the proportion claimed was never substantiated. If your current setup was built on the assumption instead of the rule, that is fixable — but sooner is better than later.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
A tax deduction is an amount subtracted from your income before tax is worked out, so it reduces the income being taxed rather than the tax bill directly. Its worth depends on your marginal rate: the higher the rate, the more the deduction saves. Common examples are RRSP contributions, child care costs, union dues, moving expenses and business expenses. Credits work the other way, reducing the tax calculated on that income.
The federal goods and services tax is 5% in 2026, and has been since it dropped from 6% to 5% on 1 January 2008. You pay the 5% on its own in Alberta, the Northwest Territories, Nunavut and Yukon. In British Columbia, Manitoba, Saskatchewan and Quebec it sits alongside a separate provincial tax, and in the five participating provinces it is folded into the HST rate.
Car insurance is claimable only for the business or employment use of a vehicle, never for personal driving. Keep a log of business kilometres and total kilometres for the year, then claim that share of insurance along with fuel, repairs, licence fees and loan interest. Employees need their employer to certify in writing that the vehicle was required for the job. Driving between home and a regular workplace counts as personal use.
Interest is normally an exempt financial service, so you do not charge GST/HST on interest you earn or on interest you add to an overdue invoice. Exempt supplies differ from zero-rated ones: zero-rated sales are taxed at 0% and still let you recover input tax credits, while exempt supplies do not. If most of your revenue is exempt, your registration position and credit recovery both change, so review the CRA's financial services guidance.
Canada has no annual tax-free allowance of the kind the United Kingdom applies to capital gains. What you get instead is the basic personal amount, a credit that shelters a first band of income each year, plus targeted reliefs: the principal residence exemption on a qualifying home and the lifetime capital gains exemption on qualifying small business shares or farm and fishing property. Only half of a capital gain is taxable for 2025 and 2026, with no separate yearly allowance.
Because GST/HST follows the place of supply, not the seller's address. For goods, the rate is set by the province they are delivered to; for most services, by the customer's address on file. So an Ontario business billing Halifax charges 14% in 2026, Moncton 15%, and Calgary 5%. Getting it wrong means under-collecting or over-collecting, and the Canada Revenue Agency assesses any shortfall against the seller.
The CRA does not report balances or late filing to the credit bureaus, so tax debt on its own does not appear on your credit report. It can reach your credit indirectly. The CRA can register a lien against property, obtain a judgment, garnish wages or divert benefits, and steps like those can become public record. Lenders also ask for filed returns and a notice of assessment, so unfiled years can hold up a mortgage or a loan.
Box 20 shows the registered pension plan contributions your employer withheld from your pay during the year. You claim that amount as a deduction on your return, which lowers your taxable income. It is not the same as the pension adjustment, reported elsewhere on the slip, which reduces next year's RRSP room instead of giving you a deduction. If box 20 looks wrong, ask your employer for an amended T4 rather than changing the figure yourself.
Total income is measured before tax. On a T1 it is the sum of your income sources for the year, such as employment income from your T4, self-employment, investment, and pension amounts, added up before deductions and before any tax withheld. Tax withheld at source is a payment toward your final bill, not a reduction in income. Deductions take total income down to net income, and further deductions give taxable income, which the rates apply to.
CRA My Account is the record for individuals: notices of assessment, balances, instalment reminders, RRSP and TFSA room, benefit payments and most slips your employer or bank filed, such as T4 and T5. Businesses use My Business Account for GST/HST and payroll accounts. Registration needs your social insurance number, date of birth and an amount from a recently assessed return. A representative you authorise can view the same information.
Day camp fees qualify as child care expenses where the camp lets a parent work, run a business or study, and they are claimed in the same way as daycare. Overnight and boarding camps also qualify, but the claim is capped per week of attendance, with the limit set by the child's age and whether a disability applies. Fees that are really tuition, private coaching or a family holiday do not qualify. Keep the camp receipt.
Your T5 comes from the bank, credit union or payer that paid the investment income, so ask the issuer first. Copies the CRA has received also appear under tax information slips in My Account, usually once the issuer has filed them. If a slip never arrives, report the income from your own statements rather than leaving it off, and the CRA will match its own copy when the return is assessed.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
